8,616 sqft

$3,450,000

11517 Old River School Rd, Downey CA, 90241

Price per sqft$400.42

Built in1957

Property size8,616 sqft

Property typeCondominium

Bought with Kristopher German with RE/MAX 2000 REALTY and Listed by Kristopher German CA DRE# 01800021 with RE/MAX 2000 REALTY 909-645-0443

Overview

Sold

Closed

Listed Mar 19, 2026

Updated 2 weeks ago

PRICED TO SELL! Now offered at a 6.58% CAP Rate, 10.26 GRM! Exceptional opportunity to acquire a 16-unit apartment community in the highly desirable city of Downey, now aggressively priced at $3,550,000. This well-located asset features all 1-Bed/1-Bath units totaling 8,616 rentable square feet on an expansive 14,489 sq. ft. lot, offering an efficient layout that consistently attracts strong tenant demand. Residents benefit from onsite parking and an onsite laundry facility, enhancing convenience and long-term retention. The property is now delivering a 6.58% CAP Rate and 10.26 GRM, providing stronger in-place returns and improved cash flow following the price adjustment. Rare additional opportunity: The adjacent property at 11523 Old River School Rd is also available for purchase, creating a unique chance to acquire 32 units total, ideal for investors seeking scale, operational efficiency, and long-term portfolio growth in a prime Downey location. Positioned in a high-demand rental market, this offering combines improved pricing, solid fundamentals, and a desirable unit mix, making it a compelling acquisition for investors focused on immediate income and future upside.

Additional information

MLS^® ID: CV26059950

Interior Features

Cooling: Yes
Basement: No

Exterior Features

Lot Size: 0.33 Acres

Other Property Details

Maintenance Expense: $12,000
55+/Senior Community: No

Bought with Kristopher German with RE/MAX 2000 REALTY and Listed by Kristopher German CA DRE# 01800021 with RE/MAX 2000 REALTY 909-645-0443

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 9/25/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

Data last updated on 9/25/2026 at 3:51 AM UTC Last Checked: 3:51 AM UTC